Question 5 If you choose to answer question 5, you should answer both Part A and Part B Part A Fred and Sue carry on a partnership together with gross receipts for the current income year of $100,000. During the year the following payments were made: $ Purchases of trading stock 20,000 Lease payments on two cars 30,000 Stock on hand at the beginning of the income year was $6,000 and at the end of the year it was $6,600. Both cars were used for business purposes, but one of the cars is used by Fred 40% for private purposes. Required: What is the section 90 ITAA36 net income or partnership loss? Please show your calculations and refer to sections of legislation where appropriate. 10 marks Click or tap here to enter text. Part B ABC Pty Ltd is a resident company with a tax rate of 30%. It pays a $7,000 franked dividend to Bob, a chamadaldal l -E000.000 w Question 5 If you choose to answer question 5, you should answer both Part A and Part B Part A Fred and Sue carry on a partnership together with gross receipts for the current income year of $100,000. During the year the following payments were made: $ Purchases of trading stock 20,000 Lease payments on two cars 30,000 Stock on hand at the beginning of the income year was $6,000 and at the end of the year it was $6,600. Both cars were used for business purposes, but one of the cars is used by Fred 40% for private purposes. Required: What is the section 90 ITAA36 net income or partnership loss? Please show your calculations and refer to sections of legislation where appropriate. 10 marks Click or tap here to enter text. Part B ABC Pty Ltd is a resident company with a tax rate of 30%. It pays a $7,000 franked dividend to Bob, a chamadaldal l -E000.000 w